As our nation digs deeper into a pile of debt and the administration works around the clock for a solution it only made sense to me to see what the self proclaimed guru of debt relief felt about everything. In his monthly news letter, Dave weighed in on a couple key issues:
Tax Breaks These aren’t bad, and I would never turn them down. But to think that tax breaks single-handedly stimulate the economy is laughable. Remember last fall? Those stimulus checks didn’t fix the problem, so what makes us think it’s going to fix everything this time? Did you know it was your money to start with? They’re just giving it back to you and making you feel good about it. If you’re looking for $1,000 to change your life this year, you obviously don’t have a life to start with! It may help you today or this month, but $1,000 will do very little for you in the long run. To win with money, you've got to think long term.
Patriotic Duty The government wants you to spend, spend, spend—and many Americans are taking this advice while still in debt! No matter what the talking heads say, it is not your patriotic duty to spend money you don’t have. Your duty is to take care of yourself and your household with the money you earn from an honest day’s work. If you have your full emergency fund and are in a position to buy something, now is the perfect time! You can get some fabulous deals, but don’t let the deals entice you if you haven’t planned ahead and don’t have the cash!
National Deficit
The dog is still chasing its tail.
Debt started the problem, so what is the current plan to fix the problem? More debt! What really drives the economy? Is it D.C.'s programs or small-business people scattered throughout the country? This down economic time will begin to heal itself. Do we have to go $1 trillion in debt to do that? No way!
The good news is that our future as an economy isn’t coming out of Washington. Our future prosperity is coming out of the hopes, dreams and individual freedoms of the American people. When left alone, we have a tendency to prosper. The healing of the economy will begin and end with you. Yes, you, the person you see in the mirror! You have to make your decision as to whether or not you’re going to take part in the recession.
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